OECD revises Italy 2017 GDP growth upwards to +0.9% (2)

28/11/2016

Constitutional reform 'a step in right direction'

Paris, November 28 - The the Organization for
Economic Cooperation and Development (OECD) revised upward its
GDP growth estimate for Italy in 2017, by 0.1% to 0.9%. Italy's
GDP will grow by 0.8% in 2016, by 0.9% in 2017 and by 1% in
2018, the OECD said in its November economic outlook report out
Monday. In spite of strong improvement on the jobs front,
private consumption weakened on increasing uncertainty and a
drop in consumer confidence, according to the OECD. The
organization said Italy's government has made significant
progress on structural reforms, from the labour market to the
civil service to the educational system. Its constitutional
reform law - which is the object of a December 4 referendum -
"will be a step forward in the reform process and will
strengthen political and economic governance," the OECD report
said. The organization also said it expects eurozone GDP growth
of +1.7% in 2016, +1.6% in 2017 +1.7% in 2018.